Bitcoin
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The bitcoin exchange rate on Friday, May 26, strengthened to $26,768.
The largest digital currency is again trying to get closer to $27,000. Pressure on BTC will increase in this area, Bloomberg predicts.
According to the agency, BTC volatility is still at a five-month low. Bitcoin has been trading in a narrow range for several weeks in a row, and its strengthening today is within acceptable limits and does not affect the volatility index in any way.
In addition, Bloomberg fixes the weakening of the correlation between BTC and the shares of American IT companies.
The dependence of the cryptocurrency on the high-tech Nasdaq 100 has decreased to 0.19 points.
The last time the correlation index of two assets was at this level was on April 25, which is the lowest value since November 2021.
Defiance ETFs CEO Sylvia Jablonsky stressed that the correlation between BTC and the US stock market began to decline at a time when investors switched to shares of companies related to artificial intelligence and high-tech manufacturing. It is these assets that are now considered as the most promising in terms of profitability.
Interest in bitcoin, on the contrary, is declining. However, in the near future, capital will again go into the cryptosphere, the expert believes.
#Bitcoin #closer
